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HomeMy WebLinkAboutCC Resolution 3264X-20/1RESOLUTION N0. � i�0 RESOLUTION AMENDING RESOLUTION OF INTENTION NO. 2740 IN THE MATTER OF THE INTEREST RATE FOR BONDS TO BE ISSUED IN FRANCISCO BOULEVARD ASSESSMENT DISTRICT, CITY OF SAN RAFAEL. COUNTY OF MARIN. STATE OF CALIFORNIA. BE IT RESOLVED by the City Council of the City of San Rafael, Marin County, California, that the following language is hereby deleted from Resolution of Intention No. 2740, adopted _on the 18th day of February, 1963: "NOTICE IS HEREBY GIVEN that serial bonds shall be issued in the manner and form provided in Part 5, Division 7, of the Streets and Highways Code of the State of California (Improvement Act of 1911) to represent unpaid assessments of Fifty Dollars ($50.00) or over, which said bonds shall bear inter- est at the rate of 6% per annum and the last install- ment -of which bonds shall mature fourteen (14) years from the 2nd day of January next succeeding the next September 1st following their date. Said bonds shall be payable to bearer, and there shall be added to the redemption clause in said bonds the following words: '...together with a premium of five per cent (5%) of said unpaid principal.I " and there is hereby substituted therefor the following language: and "NOTICE IS HEREBY GIVEN that serial bonds shall be issued in the manner and form provided in Part 5, Division 7, of the Streets and Highways Code of the State of California (Improvement Act of 1911) to represent unpaid Assessments of Fifty Dollars or over, which said bonds shall bear interest at a rate of not to exceed six per cent (6%) per annum, the last installment of which bonds shall mature four- teen (14) years from the 2nd day of January next succeeding the next September 1st following -their date. Said bonds shall be payable to bearer, and there shall be added to the redemption clause in said bonds the following words: '.....together with a premium of five per cent (5%) of the unmatured principal"'; BE IT FURTHER RESOLVED that said change is made in accordance with the provisions of Sections 10350 - 10358, inclusive, of the Streets and Highways Code of the State of California, and it is the finding of this City Council that Notice and hearing of such change is not required under said provisions. I HEREBY CERTIFY that the foregoing resolution was duly and regularly adopted by the City Council of the City of San Rafael, Marin County, California, on the 3rd day of May, 1965, by the following vote, to wit: AYES: Councilmen Aby, Baar, Barrier, Jensen, anu i'IWI BeIN NOES: Councilmen ABSENT: Councilmen 11� W. C. CORD L, City Clerk, City of Xn Rafael, Marin County, California. -2-